The property market is what you make of it, there's been lots of mortgagee sales, so obviously some who've been willing to take the risk will have made money if they've done their homework.
There's a chart posted on another thread that touts gold as the asset that's appreciated more than any other since the GFC, apart from corn, which has gone exponential in the last few months because of the drought. Doesn't that send out a contrarian signal CW? It ought to.
You're in the gold business, you've got a vested interest, your user-friendly, scholarly patter is probably appealing to the gullible, easily influenced punters who've been drawn into the 'economic and financial implosion' scenario, which won't actually happen.
Gold is part and parcel of the 'greater fool' theory, wwhere you need to draw in more speculators to keep the price increasing, gold having limited intrinsic value and no dividend, apart from a couple of the majors.
You're saying it's 'different this time', but I very much doubt it, there's always minor differences, but when an asset appreciates by hundreds of %, danger lurks nearby.
The WGC? Are they going to distribute any negative gold publicity, of course not, they're in the same business you are, it's like putting the fox in charge of the henhouse.
Finally, I'd like to make the point that Jon Nadler's cost of extraction varies significantly from yours.
